Nippon Steel, Vale to study steelmaking decarbonisation
Japanese steel mill Nippon Steel and Brazilian mining group Vale have signed an agreement to study the decarbonisation of steelmaking.
The firms will jointly explore the potential use of green raw materials for steelmaking. Such materials include direct reduced iron (DRI), which is generated from iron ore by removing oxygen without melting, and molded pig iron, made by using biomass-based carbon materials for melting. Nippon Steel is considering incorporating biomass like eucalyptus and sugarcane to process Vale's iron ore and produce molded pig irons. The firms also aim to introduce briquettes molded by using pressure instead of heating.
The firms did not specify the terms of their collaboration, but the agreement includes short- and long-term projects.
Nippon Steel has set a target to achieve a 30pc reduction from its total CO2 emissions of 102mn t in 2013 by 2030, and carbon neutrality by 2050. The firm is attempting to manufacture DRI by using natural gas, and it aims to use carbon-free hydrogen in future. It also plans to build a large scale DRI electric arc furnace for high-quality steel production to improve its competitiveness and achieve its decarbonisation goals.
Nippon Steel has been struggling to optimise its operations amid increasing international competition. The firm in September 2021 decided to close the entire Kure steel works by 2023.
Related news posts
US adds 142,000 jobs in August, unemployment at 4.2pc
US adds 142,000 jobs in August, unemployment at 4.2pc
Houston, 6 September (Argus) — The US added 142,000 nonfarm jobs in August, fewer than forecast, raising the odds of a half-point rate cut at the Federal Reserve's policy meeting in two weeks. The job gains followed downwardly revised gains of 118,000 for June and 89,000 for July, for combined losses of 86,000 for the two prior months, according to the Labor Department. The gains in August were below the average monthly gain of 202,000 for the prior 12 months. The unemployment rate ticked down to 4.2pc in August from 4.3pc in July, still near five-decade lows of 3.4pc reached in early 2023. The gains were slightly lower than the 160,000 job gains forecast in a survey by Trading Economics, increasing the odds of a 50 basis point cut in the target rate to 45pc probability today from 40pc Thursday, according to the CME FedWatch tool. Odds of a quarter point cut fell to 55pc today from 60pc the day prior. Fed policy makers in late July kept their target rate unchanged at a 23-year high, but Fed chair Jerome Powell told a bankers symposium last month that the "time has come for policy to adjust," his clearest signal that the Fed is ready to begin lowering borrowing costs as inflation has slowed markedly and the labor market was beginning to show signs of weakening. A rate cut after the 18 September Fed meeting would come less than two months before the US presidential election on 5 November. Job gains were reported in construction and health care. Health care added 31,000 jobs in August, about half the monthly gain in the prior year. Construction added 34,000 jobs, more than the average. Manufacturing jobs fell by 24,000 in August. Employment was little changed in other major industries, including mining and oil and gas extraction. Average hourly earnings increased by 3.8pc over the 12 months ending in August, up from 3.6pc through July. By Bob Willis Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
PCC BakkiSilicon calls for trade defence on Chinese Si
PCC BakkiSilicon calls for trade defence on Chinese Si
London, 6 September (Argus) — Iceland's PCC BakkiSilicon has renewed its call for political support to apply increased anti-dumping duties on silicon metal from China, produced at lower prices with higher emissions, after PCC received an International Sustainability and Carbon Certification (ISCC) certifying its CO2 equivalent footprint. PCC BakkiSilicon — the Icelandic subsidiary of Germany's PCC SE — is discussing protective measures on an EU level through industry association Euroalliages, and directly with the German and Icelandic governments, a company representative told Argus . "Protective measures for the silicon industry should consist of an increase of anti-dumping duties from China," the representative said. "As well as stronger measures to comply with supply chain law requirements to prevent imports of material that is being produced under violation of human rights, work safety and environmental standards," they added. Silicon metal imported into the EU from China is already subject to an anti-dumping duty of 16.8pc (or 16.3pc for Datong Jinneng Industrial Silicon) originally imposed on 1 July 2016, and renewed on 11 August 2022 after a request for review from Euroalliages. Anti-dumping measures are usually imposed for five years, but interested parties may ask for an interim review provided that there is sufficient evidence of changed circumstances. Interim reviews usually concern the level of duty in force, but can also extend to injury, scope and form of measures. Whether an interim review can be requested remains open at the time being, the PCC representative said. The renewed political plea comes as PCC is the first silicon producer to receive ISCC Carbon Footprint Certification, confirming a footprint of 3,102.56kg CO2 equivalent (CO2e) per t of silicon metal — as produced in the reference period from 1 July 2022 to 30 June 2023. This is compared with a global industry average of 10,900kg CO2e/t of silicon metal, according to PCC, and the company estimates that Chinese manufacturers are operating far above this number. "The material produced so efficiently in environmental terms by PCC in Iceland is rarely measured by customers in Europe against criteria such as sustainability or climate protection, but still only against price," PCC SE chief executive Peter Wenzel said. By Samuel Wood Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Japan approves $2.4bn for EV battery projects
Japan approves $2.4bn for EV battery projects
Tokyo, 6 September (Argus) — The Japanese government has approved to fund a maximum of ¥347.9bn ($2.4bn) for electric vehicle (EV) battery investments, in a bid to build out 150 GWh/yr of domestic output capacity by 2030. A total of 12 projects will be subsidised, according to the ministry of trade and industry (Meti) on 6 September. This includes lithium-ion (Li-ion) battery cell production by a consortium of battery producer Panasonic and auto manufacturer Subaru ( see table ). Around ¥326bn will be allocated for Li-ion battery production, including lithium iron phosphate (LFP) batteries. Some ¥17bn for raw material production, such as electrolyte and ¥5bn for manufacturing equipment, will be financed, Meti said. The funding is part of Meti's wider battery strategy that aims to build out 150 GWh/yr of battery production capacity domestically by 2030. The projects being subsidised are expected to lift total capacity to 120 GWh/yr from 85 GWh/yr currently once they begin operations, a Meti official said. To achieve 150 GWh/yr target, the country needs to secure 100,000 t/yr of lithium, 90,000 t/yr of nickel, 150,000 t/yr of graphite, 20,000 t/yr of cobalt and 20,000 t/yr of manganese, according to Meti. The battery strategy is part of pricing policy across industries based on Japan's Green Transformation Initiative, a policy to promote decarbonisation. Japan by 2030 aims to set a battery pack price for EVs at ¥10,000/kWh or less to make EV prices competitive with gasoline cars, and for storage batteries for industrial facilities at ¥60,000/kWh. Domestic battery production will be an essential factor to meet those targets by reducing cost. Meti's battery strategy also aims to reduce foreign dependency for the battery supply chain, in line with the country's economic security law that designated batteries a critical resource in December 2022. By Yusuke Maekawa Japan EV battery projects with subsidy Project owner Product Capacity (GWh/yr) **** Project cost (¥bn) Government funds (¥bn) Expected year to start supplying Panasonic/Subaru lithium-ion battery cell 16.0 463.0 156.4 Aug '28 Panasonic/Mazda lithium-ion battery cell 6.5 83.3 28.3 July '25 Nissan LFP (lithium-iron phosphate) 5.0 153.3 55.7 July '28 Toyota/PPES*/PEVE** Next generation battery/ASSB*** 9/n.a 245.0 85.6 Nov '26 Nippon Shokubai Electrolyte 21.4 37.5 12.5 July '28 Toagosei Binder 142.0 3.8 1.3 Oct '26 artience/Toyocolor a) Conductive agents, b)carbon nano-tube a) for cathode 40, for anode 17, b) 120 8.8 2.9 a) Dec '27 (cathode), Sep '26 (anode), b) Jan '27 Kaga Explosion-proof cover cap 3.1 0.6 0.2 Oct '25 Ricoh/Seibu Giken Battery manufacturing equipment 3.0 4.7 2.3 Sep '27 Kyoto Seisakusho Battery manufacturing equipment 21.0 5.4 1.9 Jul '26 Soft Energy Controls Battery manufacturing equipment 18.0 0.8 0.4 Apr '25 Marui Sangyo Battery manufacturing equipment 8.0 0.8 0.4 Apr '26 * PEVE=Primearth EV Energy **PPES=Prime Planet Energy & Solutions *** All-solid-state-battery **** battery equivalent for raw material and battery manufacturing equipment Source: Meti Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Singapore’s SP to launch 240MW solar project in China
Singapore’s SP to launch 240MW solar project in China
Singapore, 6 September (Argus) — Singapore's state-owned utility SP plans to start up a 240MW peak (MWp) agrivoltaic project in Guangdong province's Huizhou city, which will be fully operational by the end of this year. MWp refers to the maximum power output potential a solar farm has when reaching ideal conditions. SP expects the project to generate 7.5bn kWh of green electricity over the next 25 years, reduce coal use by 920,000t and avoid 4.46mn t/yr of carbon emissions. The project's solar installation capacity is 240MW, and marks SP's largest solar investment in China, the company said on 5 September. SP has secured 1.45GW of solar projects in China to date, spanning 18 provinces and municipalities. SP in May also partnered with China environmental technology solutions provider Qingdao Daneng Environmental Protection Equipment to invest and build a 90MW aquavoltaic farm in Qingdao city. This will power a green hydrogen facility in Qingdao, likely referring to Chinese refiner Sinopec's 4,500 t/yr facility . The solar project has an investment value of over 76mn Singapore dollars ($58.5mn) and is on track to connect to the grid by the end of the year. SP expects it to produce 162mn kWh/yr of green electricity and reduce carbon emissions by 160,000 t/yr. The operational model will incorporate renewable energy generation, grid integration, demand-side management, and energy storage. SP's first investment in solar assets was in June 2023, for 78MWp of agrivoltaics assets across four agricultural sites in the Dabu county of Meizhou city in Guangdong province. The project will generate 91.3GWh/yr of clean electricity, and reduce coal usage by almost 30,000t, which amounts to cutting more than 91,000 t/yr of carbon emissions. The operational date of this project was not disclosed. SP in May entered a strategic alliance with Shanghai-based CMB Financial Leasing to obtain financing services, which is expected to reach up to 8bn yuan ($1.13bn) over the next three years, to support the firm's deployment of renewable energy solutions in China. The projects will span utility-scale solar farms, distributed solar photovoltaic, energy storage, and district cooling and heating. By Joey Chan Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
![Generic Hero Banner](/_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fimages%2F14-generic-hero-banners%2Fherobanner_1600x530_generic-c.jpg%3Fh%3D530%26iar%3D0%26w%3D1600%26rev%3D8ec86dce0f724687bd325a9a917cffae%26hash%3D9FD39B08C9D84A160C91A3649C40A186&w=3840&q=75)
Business intelligence reports
Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.
Learn more